One of the largest and most established Pacific Northwest based breweries was facing slowing consumer consumption after a period of substantial sales growth and infrastructure investment. As a result, cash flow difficulties were surfacing and increasing pressure was being placed on the company from its secured and unsecured creditors.

Macadam was engaged in a three month process, which aided the shareholders in balancing their objectives with the secured and unsecured creditors. The engagement resulted in the company paying off the secured lender, negotiating and securing new equity and debt financing, and structuring and negotiating discounted or extended repayment programs with each of the company’s major unsecured creditors. Today, Macadam remains engaged by the company for consultation on a variety of financial issues, including the evaluation and pursuit of acquisition opportunities.

A $30 million multi-state, chain of thirty restaurants operating in the Pacific Northwest was facing cash flow strain resulting from increased competitive pressure, an aggressive expansion campaign, and investments in an affiliated company. As a result, the company’s shareholders were searching for solutions to protect secured and unsecured creditors as well as their own personal investment.

Macadam was engaged in an 18 month process which included financial modeling under various strategic scenarios, developing and employing a capital plan consistent with the company’s revised operating strategy, renegotiating the structure of the company’s credit facility with its existing lender, terming out amounts owing to the Company’s largest trade vendor over a 10 year amortization, securing long-term real estate financing, and overseeing the sale of two restaurants and the liquidation of an affiliated company. Today, the company’s financial situation has stabilized and its relationships with secured and unsecured creditors are excellent. Macadam remains engaged by the company for consultation on a variety of financial issues.

A $30 million international consumer electronics manufacturer was encountering cash flow difficulties arising from a combination of mounting losses and working capital investments that substantially exceeded sales growth. Macadam was engaged in a nine-month process of financial modeling, developing and employing a feasible capital plan, renegotiating the structure of the company’s credit facilities with its existing lender, raising term debt from an asset based lender, and providing cash preservation advice to management. By the end of the assignment the company returned to profitability, reduced its borrowings substantially, and had sound financial controls in place.

Prior to Macadam’s involvement, the company’s primary lender was encouraging the pursuit of subordinated debt and was moving towards a reduction in the company’s availability on its operating line of credit. Through Macadam’s involvement, the company was able to avoid issuing subordinated debt, thereby avoiding dilution to existing shareholders, and was able to maintain its relationship with the existing lender under satisfactory terms.